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• Revenue: +26.7% (2Q09), +20.1% (1H09)
• Net Profit: +27.9% (2Q09), +29.6% (1H09)
• Press Release: Net attributable profit jumps 30% to RMB107m; net profit margin improves by 1.8ppt to 24.4%
• Prudent working capital management helps double net operational cashflow to RMB164m and lifts Group cash balance to RMB828m
• Outlook: With more players entering the water treatment industry, the Group expects competition to remain keen.
• With its established track record, proprietary technologies and extensive sales and marketing network, the Group shall continue to remain competitive and expand its operations in the PRC.
• The Group intends to participate in investments in BOT projects whenever opportunities arise, in order to build up its recurrent income stream.
• The Group will continue to seek expansion opportunities both within and outside China.

FINANCIAL RECORDS

Revenue (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2009 136,049 303,435
2008 126,477 239,535 391,965 266,830 1,024,808
2007 114,108 128,899 273,162 181,172 697,341
2006 90,317 97,567 193,190 124,546 505,620
2005 NA NA 172,719 68,986 380,077
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Earnings (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2009 40,744 66,656
2008 30,781 52,107 99,460 49,285 231,635
2007 23,680 33,484 60,282 46,982 164,428
2006 15,394 25,389 43,819 25,949 110,551
2005 NA NA 42,436 9,608 79,890
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Dividends

FY Interim Final Special (RMB)
2009 NA
2008 NA 0.08000 NA
2007 NA 0.06667 NA
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Bonus / Rights / Stock Split

Date Type Details
2008-03-04 Stock Split STOCK SPLIT OFFER OF 3 FOR 1
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Share Data (RMB)

NAV = $1.06
EPS = $0.083 (6M FY09)
No of Shares = 1,290,000,000
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA